CervoMed Inc. (NASDAQ:CRVO) Receives Consensus Rating of “Moderate Buy” from Brokerages

CervoMed Inc. (NASDAQ:CRVO) has been assigned a consensus rating of “Moderate Buy” from the nine research firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and two have issued a strong buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $27.63.

A number of equities research analysts have issued reports on the company. Roth Mkm upped their price objective on CervoMed from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, March 18th. Canaccord Genuity Group upped their price objective on CervoMed from $12.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, March 18th. Jones Trading upgraded CervoMed from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research report on Thursday, March 13th. Brookline Capital Management upgraded CervoMed from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 11th. Finally, Chardan Capital upped their price objective on CervoMed from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Monday, May 12th.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Rhumbline Advisers grew its stake in shares of CervoMed by 35.5% during the first quarter. Rhumbline Advisers now owns 5,830 shares of the company’s stock valued at $53,000 after buying an additional 1,526 shares during the last quarter. AQR Capital Management LLC bought a new position in shares of CervoMed during the first quarter valued at approximately $227,000. AWM Investment Company Inc. bought a new position in CervoMed in the first quarter worth approximately $7,898,000. Russell Investments Group Ltd. grew its stake in CervoMed by 8,159.4% in the first quarter. Russell Investments Group Ltd. now owns 18,914 shares of the company’s stock worth $173,000 after purchasing an additional 18,685 shares in the last quarter. Finally, HighTower Advisors LLC bought a new position in CervoMed in the first quarter worth approximately $104,000. Institutional investors own 25.15% of the company’s stock.

CervoMed Trading Down 2.0%

NASDAQ:CRVO opened at $6.85 on Friday. The company has a market capitalization of $59.60 million, a P/E ratio of -3.14 and a beta of -0.73. CervoMed has a 12 month low of $1.80 and a 12 month high of $20.63. The business’s 50-day moving average is $8.48 and its 200 day moving average is $5.80.

CervoMed (NASDAQ:CRVO) last posted its earnings results on Monday, May 12th. The company reported ($0.56) EPS for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.04. CervoMed had a negative return on equity of 44.07% and a negative net margin of 200.57%. The company had revenue of $1.92 million for the quarter, compared to the consensus estimate of $1.70 million. On average, research analysts forecast that CervoMed will post -1.88 earnings per share for the current year.

CervoMed Company Profile

CervoMed Inc, a biotechnology company, engages in the development and commercialization of treatments for age-related neurologic disorders. Its lead drug candidate is neflamapimod, an orally administered small molecule brain penetrant for the treatment of dementia with Lewy bodies (DLB), Alzheimer's diseases, frontotemporal dementia, and ischemic stroke recovery.